Trade Desk (NASDAQ:TTD) Price Target Cut to $115.00 by Analysts at BMO Capital Markets

Trade Desk (NASDAQ:TTD) had its price objective reduced by BMO Capital Markets from $160.00 to $115.00 in a research note published on Thursday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the technology company’s stock.

TTD has been the subject of a number of other reports. Robert W. Baird decreased their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday. Piper Sandler restated an “overweight” rating and set a $110.00 target price (down previously from $140.00) on shares of Trade Desk in a research note on Thursday. Stifel Nicolaus dropped their price target on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their target price for the company from $85.00 to $115.00 in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.20.

Trade Desk Stock Performance

TTD stock opened at $81.92 on Thursday. Trade Desk has a fifty-two week low of $72.21 and a fifty-two week high of $141.53. The company’s 50 day moving average price is $122.11 and its 200 day moving average price is $115.31. The firm has a market capitalization of $40.43 billion, a price-to-earnings ratio of 134.30, a PEG ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. Equities analysts forecast that Trade Desk will post 0.87 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ithaka Group LLC increased its holdings in Trade Desk by 4.5% during the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after acquiring an additional 4,836 shares in the last quarter. Venture Visionary Partners LLC grew its position in shares of Trade Desk by 33.0% in the third quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after purchasing an additional 4,296 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after purchasing an additional 358,350 shares in the last quarter. Assetmark Inc. raised its position in shares of Trade Desk by 2,461.2% during the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock worth $8,066,000 after purchasing an additional 70,687 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Trade Desk by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after buying an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Company Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.